I tried to sell this property 2 yrs ago and due to lack of buyers I entered into a Lease option contract but after 10 months the buyer backed out and forfeited his deposit.

The courts decision was that Mr A must pay $800 by this coming Wednesday and another $800 within the next 2 weeks or he forfeits the land contract & loses everything.Mr A wants me to pay him 2k and he will sign over his land contract to me.

I would be forfeiting high rents $5K NNN per month for the retail space forever, but basically getting controlling interest of the building for little to no money down.

I always have the tenant sign a deposit form that specifically states the tenant forfeits the deposit if I deliver the unit as agreed but the tenant backs out.

In the event the tenant does not buy the home the option credit is forfeited to the owner.

Saying that as a broker I always forfeit my 3% on HUD which does increase my net to HUD

They will close 30days after sale of their home, and if they can not close in one year they'll forfeit downpayment of $5,000.

If there is a loan the bank or lender has the option to pay the space rent or forfeit the home to the park.

Now that he has backed out and forfeited his deposit check, do I ask the Title Company to deposit his check in their account and make out a check for $1000 to my company?

If they choose to do so, Logan will have the property deeded to Alex and Rodney, who are now homeowners.Of course, there are risks and rewards for all parties here.Risks to Alex and Rodney: if the value of the home has gone below the agreed-upon price by the end of the lease term, Alex and Rodney must either 1) execute the option to purchase, even though it's at a higher price than the property is currently worth, or 2) waive their right to purchase the property, which will result in them having forfeited the option fee and rent credits.Rewards for Alex and Rodney: if the value of the home goes above the agreed-upon price by the end of the lease term, Alex and Rodney will have been able to lock in a lower price than they would have gotten if they had simply saved up a down payment and sought to purchase a home at that point in the future.